Wednesday, August 26, 2009

Citizens For Honest Mmarkets Manifesto

Considering the tight correlations/anticorrelations in the market these days. The picture below is not just about EURO! It is about OIL, STOCKS, EURO , METALS etc. All markets of interest. All markets of great interest(:-


1027.58 1029.65 1033.01 1037.19
spx
1018.85 1016.78 1013.42 1009.24

Now, I have not yet completed much of my thought about the High Frequency Trading and all kinds of misconceptions and statements going around the net, by people who hardly understand what they are talking about, but pretend to be telling the world something new. Ok, there may be something new, here...
IT IS THE TECHNOLOGY STUPID!
Leave the technology alone and all you are left with the good old days of Jessy Liver more and his era , simply amplified and put on steroids by the modern technology and in many ways more opaque, due those facts. Only people well versed in technology and trading can tell you that there is nothing new here. It is all the same old , same old... Insider trading, front running etc... POTENTIAL ( now, watch I have not accused anybody here... Yet(:-, All I say is that there is a potential, just like there was before). Remember Many of those Collocating their trading computers on the exchanges are brokers as well. Not just proprietary traders. Many hedge funds are totally dependent on GOLDMAN for example, for funds/loans, executions , information , etc.

So, the question arises, are these situations susceptible to all the sickness the exchanges have , always, possessed?

My Unqualified answer is Yes, and there is nothing new under the SUN.

The only question is what are you going about it?

Are you going to join the "Citizens for Honest Markets" movement or set there and say. Well, this is capitalism.

I am not entirely passionate about this issue. Ambivalence comes in, because, that is the way capitalism worked for over hundreds of years and there is lot of that going in our society anyway.

If I could find the financial backing and support, I maybe able to put together a "real" No BS proposal for the exchanges that will be free and publicly transparent where it can not be. But this where I would leave it.

And I would also like to tell you that, you do not have to get excited, because somebody with a interesting name and/or shouting on TV attracts attention, without really comprehending the entire issue or able to propose the solution ( technically speaking) for these
AGE OLD PROBLEMS IN THE MARKETS.

34 comments:

John said...

Boris

Remember George--

I do and it is good for my blood pressure as I am just a spectator now.

old john

boris said...

Dear John,
So, we are all speculators.
That is really all that is left for us.

To be as prudent of a speculator as we all can be(:-

GOod Trading Dear John My Dear Friend

boris said...

Please see Message
explaining the
previouse message

GOod Trading Dear Subscribers

John said...

Boris,

got it -thanx

old john

xerxes said...

Good Morning Dear Boris

xerxes said...

no trend changes after yesterday's action dear boris

boris said...

Good Morning Dear Xerxes,
There are some changes, like the renewed weakness of Dollar. Not much but weakness nevertheless

Good Trading Dear Xerxes

xerxes said...

dollar weakness is not new dear boris :-) besides, the buck caught a bid yesterday

consumer confidence up nicely and no pop for euro dear boris...has eurusd & eurjpy run out of gas dear boris...

xerxes said...

bloomberg says that the japanese need to have more babies to stimulate economic growth...any volunteers on this board :-)

xerxes said...

USD Personal Consumption (2Q)
USD Core Personal Consumption Expenditure (QoQ) (2Q)
USD Gross Domestic Product Price Index (2Q)
Initial Jobless Claims AUG 22

xerxes said...

8:30am EST for the data dear boris... boom

boris said...

Dear Xerxes,
Thank you.

Good Trading Dear Xerxes

xerxes said...

when you say 'alternative would be a quick drop first' on the pc ratio chart, are you referring to the indicator or ? dear boris

boris said...

I am referring to indicator and obviously accompanying price.

Usually the pink oscillator strides up and down the zero line and if it was to stride up this time it would cause the market to go down, if for a day or so.

I am not saying this will happen, but it can. I see it more liekly that pink line and red line will oscillate in a narrow range and give a chance for some more distribution days in the market.

Good Trading Dear Xerxes

xerxes said...

seems like cable is the only component of usdx that is keeping it from going into freefall, which may happen anyways

xerxes said...

numbers apparently didn't excite

boris said...

Dear Subscribers,
Please see the DotNet

boris said...

I mean for EMINI

Good Trading Dear Subscribers

xerxes said...

thank you dear boris...you're a genius :-)

boris said...

Dear Xerxes,
I have tried to debunk that notion of genious being me for so long time(:-

Now you are giving me the smae work to do again!(:-

I am tired proving that I am the stupidest market follower ever. One day it will be all to clear(:-

GOod Trading Dear Xerxes

boris said...

This was , so far, very interesting and classic vintage of the market. Top exactly at the AREA top and and First IHAP confluence and bottom at the confluence of Second ILAP and Second and Third Dlap. Great.

YOu see usually the second ILAP/IHAP are not really great points for support or resistence, but once you sandwich them between the Second And Third DLAP/DHAP you get very different picture(:-

Good Trading Dear Subscribers.
I am not entirely confident that this market will hold the lows, but anything can happen here and if it does not, then hellow low 1900s.

Good Trading Dear Readers as well

boris said...

Please understand.
I am not entirely confiden does not mean I am 100% confiden market will not hold.

In fact, I think, there is only a slightly higher chance that market will go lower, than not!

GOod Trading

Mike Truong said...

Dear Boris,

I noticed that the original europrojxx is working well. I think your recent foray into short term timing has brought doubts into your original thinking. For now I am still sticking with your dollar projection until otherwise...

Good trading dear friend,

Michael

Mike Truong said...

Dear Boris,

Is it time for renewal season again? Can I renew early (mid sept is my expiration date)?

Thanks dear friend,

Michael

boris said...

Dear Michael,
Of course, You can renew, and service will simply continue without interruptions.

As far as short term events, I must convey them to people who maybe/are trading within the day/couple limits. Of course, they can be wrong, that is imbeded in the traders life. There is a lot more uncertainty, within the day or two, while it is a lot easier to catch the higher time frame trends.

Of course, there is always stop to take care of a trade gone wrong(:-


Frankly , intraday trading , should also be done with the longer term trends taken into account and that should limit problems.

If when intermediate term calls for higher moves, it is almost futile to play the short term moves lower!

Good Trading Dear Michael

boris said...

Dear Reader,
Yesterday Euro looked like under attack, 1.49 - 1.37 looked possible.

What a difference the day makes.

So, what happened?

SEE our projection in the body of this post. You are now reading the Comments section

Good Trading Dear Reader

John said...

Boris,

thanks

old john

boris said...

Dear John,
Enjoy your eventing with your
signigicant other(:-

Good Trading Very Dear Friend

Hopper said...

Hi Boris,

The TSX has not made a new high yet, and it is looking as it may not make a new one for a while..
And global shipping (bdi) is looking tierd at the low level of MT support.

Went fishing with the kids, but didn't catch anything. But got to try kayaking and canoeing. It was fun! Kayaking is easier and less effort.

Good Trading My Friend

John said...

Hopper,
I have kayaked with the wife a few times. Once in Canada and a few times in Florida. It is a blast and if done seriously can be a great workout. Sounds as if you had a good time

old john

Hopper said...

Hi John,
Yes it was fun. May consider buying a double kayak one day. This summer I got the kids in swiming lessons first.
I was reading a trading book last week and it stated that people with millitary experience make good traders because they have such good discipline. It made me think of you. Hope you are doing well.
Cheers.

PS
the local realestate in Vancouver has picked up lately, almost all of the houses in my area have sold. The banks were offering record low mortgages this summer, but since then have raised them a bit.

xerxes said...

good morning dear boris

boris said...

Dear Hopeer, great to hear from
Interesting observations about the real estate

Happy days to you and Family
Dear Friend HOpper.

boris said...

Good Morning Dear Xerxes,
GOod Trading TO yo Dear Friend